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Report: Samsung Restarted Talks To Acquire Tidal, Jay Z's Music Streaming Service

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Report: Samsung Restarted Talks To Acquire Tidal, Jay Z's Music Streaming Service

Samsung Electronics Co Ltd has resumed talks with Jay Z to acquire his 16-month old streaming music company, Tidal.

The New York Post, citing "several sources," noted that Samsung has held on-and-off talks with Tidal and has "long been rumored as an interested buyer." Meanwhile, both Alphabet Inc (NASDAQ: GOOG)'s Google division and Spotify have both shown interest in acquiring Tidal.

Related Link: Kanye West: 'The Life Of Pablo' Will Never Be On Apple And Will Never Be For Sale

The New York Post pointed out that Tidal has managed to attract more than 1 million subscribers but faced several "stumbles" in its brief history. For example, the streaming music provider accidentally released Rihanna's album 'Anti' early. Mistakes like these have been "eating into Tidal's financing" and the company be having trouble in paying some of its royalty bills on time.

Bottom line, "Tidal certainly needs a new home to stay alive," a music industry insider told the New York Post.

 

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Posted-In: Jay Z Rihanna Samsung Streaming music TidalNews Rumors Tech Best of Benzinga

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